Tencent Becomes Largest Shareholder in Developer Funcom

Tencent Becomes Largest Shareholder in Developer Funcom

The Chinese tech powerhouse now owns 29% of Funcom.

Funcom, the developer behind games like Conan Exiles and Age of Conan, looks to be the latest game development studio that Tencent has set its sights on. Tencent has picked up a 29% stake in Funcom. This makes the Chinese tech and game company the largest shareholder in Funcom.

It's perhaps no real surprise that Tencent wants a piece of Funcom as the studio recently had its most profitable year. Funcom and Legendary Entertainment have also teamed up to create new Dune games over the next six years. These games will undoubtedly tie into the big Dune film slated for 2020. The first game is said to be an open world sandbox game set in the Dune universe.

The shares that Tencent have agreed to acquire come from KGJ Capital AS, the company that was previously the largest shareholder in Funcom.

“We are very pleased to see Tencent come in as the largest shareholder of Funcom,” says Funcom CEO Rui Casais. “Tencent has a reputation for being a responsible long-term investor, and for its renowned operational capabilities in online games. The insight, experience, and knowledge that Tencent will bring is of great value to us and we look forward to working closely with them as we continue to develop great games and build a successful future for Funcom.”